The latest news from academia, regulators
research labs and other things of interest
Posted: February 16, 2009
Arrowhead Receives Notification of Minimum Stockholders' Equity Non-Compliance from the Nasdaq Stock Market
(Nanowerk News) Arrowhead Research Corporation announced today that it has received a letter from The Nasdaq Stock Market (NASDAQ) notifying the Company that, based on its Form 10-Q for the period ended December 31, 2008, Nasdaq has determined that Arrowhead’s stockholders' equity does not comply with the minimum $10,000,000 stockholders' equity requirement for continued listing on The Nasdaq Global Market. The Nasdaq notification does not effect on the listing of Arrowhead’s common stock at this time.
Nasdaq is reviewing Arrowhead’s eligibility for continued listing on The Nasdaq Global Market and has asked the Company to provide a specific plan to achieve and sustain compliance with all Nasdaq listing requirements by February 26, 2009. The Company intends to respond formally to the Nasdaq request for a plan on or before the deadline.
About Arrowhead Research Corporation
Arrowhead Research Corporation (www.arrowheadresearch.com) (NASDAQ:ARWR) is a nanotechnology company commercializing new technologies in the areas of life sciences, electronics, and energy. Arrowhead is seeking to build value for shareholders through the progress of majority owned subsidiaries. Currently, Arrowhead has four subsidiaries commercializing nanotech products and applications and investments in two minority-owned subsidiaries.